VIEWpoint Issue 1 | 2020
VIEWpoint Issue 3 | 2019
Contractor’s Revenue Recognition Reminder Checklist
Cybersecurity is an important issue for every business, but it’s particularly critical in the construction industry. Contractors are particularly vulnerable to hackers and other threats because of the mobile nature of their businesses.
A cybersecurity assessment or audit can help ensure your construction company is taking the proper steps to protect sensitive information. It can also give you a competitive edge by demonstrating to clients or prospective clients that you take information security seriously.
Many contractors today are taking advantage of technologies that allow them to share and view financial and job-related information from jobsites and other remote locations. They may use cloud-based systems for remote access to payroll, billing, estimating, procurement, scheduling and project management systems.
GPS tracking systems, robotics, 3D printing and other technologies are finding their way into the construction process. Many project teams use building information modeling or similar technologies to view and edit plans, specifications and other construction data online. All these things are raising the stakes of cyber-exposure.
With all this data flying around, the risk of a breach is high and goes far beyond disclosure of confidential financial information or competitive intelligence. It also raises serious concerns about potential personal injuries, property damage and work stoppage. Imagine the harm a hacker could cause by altering plans or specifications, destroying data, interfering with a building’s security or safety systems, or remotely tampering with vehicles or equipment.
Conducting a cybersecurity assessment helps you:
It can also help you develop an incident response plan to mitigate the damages in the event of a breach.
It may be comforting to think the bad guys only go after the big guys. But hackers don’t always go after companies or other entities with deep pockets. Sometimes they attack the easiest target. Make sure your construction business is well protected.
Doeren Mayhew’s CYBERCLAW™ assessment can help by analyzing your vulnerabilities, safeguarding your data and minimizing your overall cybersecurity risk profile. For more information or to speak with an advisor, contact us today.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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